This paper considers the extension of Ellison`s (2000) Radius-Modified Coradius Theorem from the uniform-mutations case to a general stochastic setting. A modified theorem is presented, with a crucial role now played by the most probable evolutionary paths between states. The form of such paths...

This paper is a first step toward closing the analytical gap in the extensive literature on the results of interactions between public and private R&D expenditures, and their joint effects on the economy. A survey focusing on econometric studies in this area reveals a plethora of sometimes...

This paper highlights a problem in using the first-differenced GMM panel data estimator to estimate cross-country growth regressions. When the time series are persistent, the first-differenced GMM estimator can be poorly behaved, since lagged levels of the series provide only weak instruments...

With around 50% of the urban men between age 15 and 30 unemployed, Ethiopia has one of the highest unemployment rates worldwide. This paper describes the nature of unemployment among young men in urban Ethiopia. We analyse the determinants of incidence and duration and find that most variables...

ABSTRACT: The concept of a poverty function is introduced, modelling the shortfall of household consumption from the poverty line as a function of reduced form determinants such as human capital and land holdings. The model is estimated using a tobit and data from Uganda. Parameters from the...

The Millennium Development Goals have placed poverty reduction at the top of donor organisations` list of priorities. Failure to achieve the MDGs will no doubt place the spotlight on their financial commitments to poverty reduction, but effective poverty reduction relies as much on knowledge of...

Importance sampling is used in many aspects of modern econometrics to approximate unsolvable integrals. Its reliable use requires the sampler to possess a variance, for this guarantees a square root speed of convergence and asymptotic normality of the estimator of the integral. However, this...

Uninsured risk has substantial welfare costs, not just in the short run, but also in terms of perpetuating poverty. This paper discusses the scope for extending insurance to the poor, drawing mainly on examples from Latin American and Caribbean countries. It is argued that insurance provision to...

For many research problems in developing countries, some information on prices faced by households is required for the analysis, but these prices are not readily available from household surveys, nor is it straightforward to observe them, especially if subsistence consumption is a substantial...

We use high frequency financial data to proxy, via the realised variance, each days financial variability. Based on a semiparametric stochastic volatility process, a limit theory shows you can represent the proxy as a true underlying variability plus some measurement noise with known...